VIVO, a Chinese cell phone brand, has pulled out of Indian Premier League 2020 (IPL 2020) sponsorship amid the ongoing demand to boycott Chinese products in India. VIVO had paid Rs 2199 crore for a five-year contract in 2018, and now as per a report, the company has withdrew from this year's sponsorship. Interestingly, it means VIVO will be back as title sponsor for 2021, 2022 and 2023 seasons. Meanwhile, as per various reports, the Board of Control for Cricket in India (BCCI) will float a tender for new title sponsorship for only IPL 2020. IPL 2020 Title Sponsor VIVO To Make an Exit Owing to Hostility Towards Chinese Brands? Claims Report.
"VIVO has dropped out of IPL sponsorship this year. Since they had three years left under the contract, they will now do 2021, 2022 and 2023 instead," a source in BCCI was quoted as saying by Money Control.
BREAKING NEWS: VIVO won’t be the IPL sponsor this year. They will be back in 2021 and continue till 2023. The IPL will have a new sponsor this edition IPLAlso Read | IPL 2020: Delhi Capitals Post ‘Thoughtful’ Picture of Head Coach Ricky Ponting, Fans Come Up with Intriguing Captions
— Vikrant Gupta (@vikrantgupta73) August 4, 2020
Earlier, it was reported that BCCI will go ahead with VIVO as title sponsor. The IPL 2020 is set to be held in the United Arab Emirates (UAE) from September 19 to November 10. The upcoming season was earlier postponed after the coronavirus pandemic.